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Can someone identify this indicator? 5 replies

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Contest !!! Identify This Indicator

GBPUSD chart shows 89,55,34 pips between each level, and the EURUSD, while not having perfect fib. numbers, does have a ~1.618 ratio between all these levels.

Yeah, I'd go with some combination of pivot point (ie: lines based on a central point and range of previous day/week) and fibs.


I don't think it's Murrey Math, as that deals with eighths and factors of two.
Yes E. Lang you have it right on target.

It is indeed fibonacci, nothing to do with pivots or murray, automatically drawn, so i need not bother with the basics of locating highs and lows and gives precise trade levels too.

Another version of this same indicator works with amazingly absolute precision on GBPJPY that sometimes I end up calling it a holy grail system, a dumb indicator which has tamed even the most volatile currency pairs of GBPJPY and GBPCHF.


Trading systems are best developed when you get down to the dumps and write your own indicators instead of depending on others, thats where the experts come from, people who work hard to learn --- not the people who run after signals and ebay stuff.

I have always advised people to get down to the dumps and work hard on it, the results are always amazing.
If anyone has really spent time in the dumps, then he will also understand that all trading systems and methods like vgas tunnel and others are originally based on fibonacci itself. They just changed a few things and gave it their own name.......... Now this is wrong.

When I write indicators and EA's I name them in context of the original indicator used, so if I use fibnacci i will name it a fibo indicator or a fibo ea.


i hate it when people try to give it their own names for publicity.
could you please post this indicator?
Quoting Squidster
could you please post this indicator?

I just forgot the code perhaps one of the others would help here.

Like I said before, never try to hunt for freebies, the code and the method is already discussed in this thread, try to write your own indicator.

By hunting for freebies you will never try to understand and learn the concept behind the indicator and make huge losses.
Quoting forexlion
I just forgot the code perhaps one of the others would help here.

Like I said before, never try to hunt for freebies, the code and the method is already discussed in this thread, try to write your own indicator.

By hunting for freebies you will never try to understand and learn the concept behind the indicator and make huge losses.
Exactly.

I'm a math geek, so I've taken apart every indicator that I come across, and became disappointed when I realized half of them were repetitive or close enough approximations to other indicators, making them worthless. Not only that, but I got to understood how the indicator would react to price data. You don't realize just how many different types of MAs there are out there, most of them pretty much worthless. Just stick to the basic three (simple, exponential, weighted) and you'll be fine.

I recommend to people out there to take apart the code to indicators, and if you don't like math, at least spend several days observing each one with live data.
EURUSD achieved the 0 line defined by 4630 today so this means the indicator is not restricted to 1 day despite using daily data for generating it.

And if we go by the indicator then GBPUSD is homebound for 705.
What did I do ?? What did I do ??

This works !!!!
Quoting forexlion
Yes E. Lang you have it right on target.

It is indeed fibonacci, nothing to do with pivots or murray, automatically drawn, so i need not bother with the basics of locating highs and lows and gives precise trade levels too.

Another version of this same indicator works with amazingly absolute precision on GBPJPY that sometimes I end up calling it a holy grail system, a dumb indicator which has tamed even the most volatile currency pairs of GBPJPY and GBPCHF.


Trading systems are best developed when you get down to the dumps and write your own indicators instead of depending on others, thats where the experts come from, people who work hard to learn --- not the people who run after signals and ebay stuff.

I have always advised people to get down to the dumps and work hard on it, the results are always amazing.
I noticed that the lines seem to be drawn from high or low of bar at Tokyo open (high if close higher and low if close lower). Is this intentional or a highly coincidental artifact of the fib lines? Cheers to you,
There is a secret behind how the lines are drawn and that makes it unique
Is this the secret???
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I think this indicator is the 'grande ego' indicator although it could be the 'grande fromage', 'grande poisson' as well, not quite sure, I'll have to consult the quant dept at the bank I own!
Quoting traderboy
I think this indicator is the 'grande ego' indicator although it could be the 'grande fromage', 'grande poisson' as well, not quite sure, I'll have to consult the quant dept at the bank I own!

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"One Grows Tall After Walking Through A Forest Of Tall Trees."
  •  Rumi
  • | Joined Mar 2006 | Status: Student of forex trading | 44 Posts
Anyone figure this one out yet? They seem like fibo pivots to me but otherwise if there is no point to this thread it should be closed imo.
  • Post #35
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  • Last Post: Feb 7, 2008 8:39am Feb 7, 2008 8:39am
Wicked ???

jackt
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